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Lack of Government Bailout Causes Stock Market Crash

Today, the failure of the US Congress to pass the financial system bail legislation might very well become one of the most important days in modern history. You see, the banking system is on the verge of collapsing and really needs a government rescue. More than half of the House of Representitives voted against allowing the government to buy up to $700 billion in toxic loans. This bill might very well have saved wall street, main street, and the rest of this country! The government today seperated themselves from wall street in what might be the biggest fundamental change in legislator mentality. Trillions of dollars in wealth has been lost in the last several weeks including lawmakers’ own money. The basic principle around that which our country is based is the more money people have and make the more money they can collect in taxes. Without all that tax money, what is Congress going to do? Hopefully take a nice pay cut next year like the rest of the population, but doubtfull….they will probably give themselves raises and continue to push for their pet projects that help out their own jurisdiction……

Today, the credit crisis might have morphed into the start of The Great Depression 2. Wake up Congress and save yourselves along with everyone else before it’s too late!

i cldn’t comprehend when i learnt that the us$700bn financial package was rejected. now the whole world has been affected as the domino effect has taken place which means to say that any last minute financial assistance rendered cld be useless